Everyone knows that avoiding probate is one of the primary advantages of creating a revocable trust...but transferring title of your home into your trust is a necessary step that must be done properly in order to "avoid probate."
Seniors need to be aware of the scam artists who prey on the elder population with financial assets. They sound so nice. They offer to help you. But what they don't tell you is they're really salespeople, trying to get you to buy things you don't need.
Every now and then, a situation comes along that allows a taxpayer to benefit from an obscure, little known tax provision. Such was the case of "Archie" when he inherited his nephew's IRA.
One segment of estate planning often ignored is completing an inventory of personal property. Consider how helpful that will be for your children after your death, but also how an inventory can serve a purpose for you now.
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